Vericel Co. (NASDAQ:VCEL) Shares Sold by Summit Global Investments

Summit Global Investments lowered its position in Vericel Co. (NASDAQ:VCEL - Free Report) by 41.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,168 shares of the biotechnology company's stock after selling 8,663 shares during the period. Summit Global Investments' holdings in Vericel were worth $668,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of Vericel by 214.0% during the 3rd quarter. Wellington Management Group LLP now owns 587,857 shares of the biotechnology company's stock worth $24,837,000 after purchasing an additional 400,667 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Vericel by 40.0% in the third quarter. Stifel Financial Corp now owns 28,073 shares of the biotechnology company's stock valued at $1,186,000 after acquiring an additional 8,020 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Vericel by 0.8% in the third quarter. Geode Capital Management LLC now owns 1,154,053 shares of the biotechnology company's stock valued at $48,768,000 after acquiring an additional 9,613 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in Vericel by 0.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 23,900 shares of the biotechnology company's stock valued at $1,312,000 after purchasing an additional 200 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Vericel during the 3rd quarter worth about $563,000.

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Analysts Set New Price Targets

VCEL has been the topic of a number of analyst reports. StockNews.com upgraded shares of Vericel from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. Stephens reissued an "overweight" rating and issued a $65.00 price target on shares of Vericel in a research note on Wednesday, January 15th. HC Wainwright reaffirmed a "buy" rating and set a $60.00 price objective on shares of Vericel in a research note on Friday, February 28th. Truist Financial reissued a "buy" rating and issued a $61.00 target price (down from $67.00) on shares of Vericel in a research report on Monday, March 3rd. Finally, Canaccord Genuity Group upped their price target on shares of Vericel from $64.00 to $67.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Vericel has an average rating of "Moderate Buy" and a consensus target price of $62.29.

Insider Buying and Selling

In related news, CEO Dominick Colangelo sold 26,592 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $45.78, for a total transaction of $1,217,381.76. Following the sale, the chief executive officer now directly owns 259,997 shares of the company's stock, valued at approximately $11,902,662.66. This represents a 9.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert L. Md Zerbe sold 2,500 shares of Vericel stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $62.50, for a total transaction of $156,250.00. Following the completion of the transaction, the director now directly owns 26,595 shares of the company's stock, valued at approximately $1,662,187.50. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,092 shares of company stock worth $1,683,582. Insiders own 5.20% of the company's stock.

Vericel Price Performance

NASDAQ VCEL traded down $0.35 during trading hours on Thursday, hitting $46.07. The company had a trading volume of 422,894 shares, compared to its average volume of 370,907. Vericel Co. has a fifty-two week low of $39.12 and a fifty-two week high of $63.00. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 767.96 and a beta of 1.78. The firm's 50 day moving average is $53.73 and its 200 day moving average is $51.71.

Vericel Company Profile

Vericel Corporation, a commercial-stage biopharmaceutical company, engages in the research, development, manufacture, and distribution of cellular therapies for sports medicine and severe burn care markets in North America. The company markets autologous cell therapy products comprising MACI, an autologous cultured chondrocytes on porcine collagen membrane for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; Epicel, a permanent skin replacement humanitarian use device for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns; and NexoBrid, a biological orphan product for eschar removal in adults with deep partial-thickness and/or full-thickness thermal burns.